"A stock is quoted at $18 - $19. If a customer sells 100 shares to the dealer, under the FINRA 5% Policy, a fair and reasonable mark-down is based upon which price?"
Based on the information given above under the FINRA 5% Policy a fair and reasonable mark-down is based upon the price of $18 reason been that we were been ask about how much price will the mark-down price be based in a situation where the customer SELLS 100 shares to the dealer which means that mark-down will be computed from the inside bid price of the amount of $18.
